More Layoffs Strike Ad Agencies

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As holding companies reported dismal third-quarter earnings and were bracing for a protracted economic slump, another round of layoffs hit the agency business last week.

At least six shops laid off staff last week, with cuts totalling nearly 160 employees. A snapshot of the U.S. agency landscape shows that more than 1,200 ad posts have been eliminated so far this year at a random selection of a dozen shops.

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